Budget 2013: Reaction This Library Note provides a brief summary of the key measures announced yesterday in the Chancellor’s Budget statement, before outlining the immediate reaction to the Statement as expressed by the Leader of the Opposition in the House of Commons and by a range of organisations and commentators. Ian Cruse Russell Taylor 21 March 2013 LLN 2013/007 House of Lords Library Notes are compiled for the benefit of Members of the House of Lords and their personal staff, to provide impartial, politically balanced briefing on subjects likely to be of interest to Members of the Lords. Authors are available to discuss the contents of the Notes with the Members and their staff but cannot advise members of the general public. Any comments on Library Notes should be sent to the Head of Research Services, House of Lords Library, London SW1A 0PW or emailed to
[email protected]. Table of Contents 1. Budget 2013 1 1.1 Projections for Growth and Public Finances 1 1.2 Business and Investment 1 1.3 Measures Relating to Taxes and Duties 2 1.4 Changes to Public Spending 2 1.5 Personal Allowances and Financial Support in the Housing Market 3 1.6 Monetary Policy Remit 4 2. Reaction: Leader of the Opposition 4 3. Reaction Outside Parliament 5 3.1 TUC: Budget is Wrong Answer to the Wrong Question 5 3.2 British Chambers of Commerce (BCC) 5 3.3 Policy Exchange (PE): The Boddington’s Budget 6 3.4 UNISON 6 3.5 Centre for Policy Studies (CPS): The Good, the Bad and the Ugly 7 3.6 Linda Yueh: Late to it, but the Focus has Finally Shifted